The Nigerian Electricity Regulatory Commission (NERC) has officially transferred the oversight of Ekiti State’s electricity market to the Ekiti State Electricity Regulatory Bureau (EERB).
Set to take effect on May 1, 2024, this move symbolizes a broader decentralization effort within Nigeria’s power sector, influenced by recent legislative amendments under the Electricity Act 2023.
This transfer was outlined in a NERC order dated April 22, 2024, marking a significant step towards empowering state-level regulatory capabilities.
The move stems from constitutional amendments signed into law on March 17, 2023, which shifted certain powers from the federal to state governments, allowing them to independently manage electricity generation, transmission, and distribution within their jurisdictions.
The official announcement was made through an order dated April 22, 2024, where NERC outlined the transfer process, aligning with the broader legislative changes under the amended Electricity Act 2023.
IBEDC has a 60-day window from the effective date of the order to establish IBEDC SubCo and to delineate the geographic boundaries of Ekiti’s electricity network.
According to the order, the Ibadan Electricity Distribution PLC (IBEDC) is instructed to establish a subsidiary specifically for Ekiti State—dubbed IBEDC SubCo.
This transfer of regulatory powers is expected to foster greater efficiency, accountability, and responsiveness in the management of electricity services in Ekiti State.
This decentralization effort by NERC, as mandated by the latest legislative amendments, is seen as a pivotal move towards enhancing the sustainability and responsiveness of Nigeria’s electricity supply industry.